Islands Petroleum to acquire Puma Energy fuel assets in Kimbe and Kavieng

Islands Petroleum Limited has signed agreements with Puma Energy to acquire its bulk fuel depot assets in Kimbe and Kavieng, a move that will significantly enhance fuel security and supply reliability across key regions of Papua New Guinea (PNG). 

The transaction, which remains subject to regulatory approval, including from the Independent Consumer and Competition Commission (ICCC), marks a major milestone for the locally owned distributor as PNG celebrates 50 years of independence.

“As a home-grown company, we are uniquely positioned to deliver reliable fuel services across regional Papua New Guinea,” said Nathan Bluett, CEO of Islands Petroleum. “This milestone, in the year PNG celebrates 50 years of independence, extends our commitment to serving communities with the same dedication we’ve shown since our founding.”

Founded more than 40 years ago in Rabaul, Islands Petroleum has grown from a regional business into a trusted national fuel supplier. The acquisition will enable the company to better serve over 450,000 people across New Ireland and West New Britain provinces, expanding capacity to meet growing energy demand and reinforcing supply resilience.

Puma Energy and Islands Petroleum will collaborate closely during the transition to ensure continued operations and uninterrupted service. Post-approval, Islands Petroleum plans to invest in infrastructure upgrades and safety systems to further strengthen service quality and reliability.

Puma Energy emphasized that it will maintain a strong presence in PNG through its remaining assets and operations, continuing to serve retail, commercial, and industrial customers nationwide. The deal does not include Puma’s retail sites in Kimbe and Kavieng, which will remain operational following the sale.